For decades, the path to homeownership has largely been evaluated through the lens of a credit model built for a different era.
That’s changing now. The Federal Housing Finance Agency’s decision to approve more modern mortgage credit scoring models, including VantageScore 4.0, marks an important milestone for the industry.
For the first time, mortgage lenders have a path to use credit scores that can incorporate more comprehensive consumer data, including positive rental payment histories and other eligible payment information to better assess creditworthiness.
Consumers expect a more complete financial picture
Recently, much of the conversation around modern credit scoring has focused on implementation and operational readiness. While those are important, another critical point is coming into view: consumers increasingly expect lenders to use scores that leverage better data to understand their financial readiness—and they’re willing to reward those that do.
Experian’s latest research reinforces this shift:
- The broader market is willing to walk away. Overall, one-third (33%) of consumers claim they would actively seek out a new lender if they learned their current one relied only on older approaches.
- Awareness is growing rapidly. More than four in ten consumers (41%) are already aware that mortgage lenders are transitioning to newer models that incorporate rent and utility payments.
- Younger homebuyers are paying close attention. Nearly two-thirds (62%) of Gen Zers over 18 are aware mortgage lenders are gaining access to more modern credit scores and three in four (76%) say the type of credit scoring model a mortgage lender uses would influence whether they would stay with that lender or consider another option.
These findings should matter to every mortgage lender.
Consumers rightfully want to know lenders are using modern scores that use broader data and many say they’ll actively choose lenders that use them.
The power of expanded data
At Experian, we often say that better data creates better outcomes. That has been true throughout our history and it’s why we’ve consistently invested in helping consumers build and demonstrate their complete financial picture.
It’s what led us to launch Experian Boost®, helping millions of consumers add eligible utility, telecom and streaming payment history to their Experian credit file. It drove us to become the first credit reporting agency to incorporate positive rental payment history into consumer credit reports. Today, Experian maintains the industry’s largest repository of rental data, recently surpassing 50 million lease records.
Now, for the first time, the modern credit scoring models approved for mortgage lending are capable of making greater use of this richer picture.
And the opportunity is significant. Independent research from VantageScore found VantageScore 4.0 can identify nearly five million additional mortgage-ready consumers compared with legacy mortgage scoring approaches, representing an estimated $1 trillion in potential mortgage originations.
The path forward
For years, the industry has talked about modernizing mortgage credit. Today, consumer demand is making it an operational mandate.
Consumers expect lending decisions to reflect their complete financial picture, they’re willing to walk away from organizations that don’t adapt. Lenders that embrace this shift won’t just be adopting new technology—they’ll be better positioned to serve the next generation of homebuyers.
We’re ready to help our clients make the most of this moment – with the data, insights and expertise to responsibly expand access to homeownership.
Methodology: Experian commissioned Atomik Research to conduct an online survey of 2,000 adults age 18+ in the United States. The margin of error for the overall sample is +/- 2.2 percentage points with a confidence level of 95 percent. Fieldwork took place between July 16 and July 21, 2026.